With the completion of Elevation Place expected later this year, the Town of Canmore stepped up its pursuit of attracting sponsorships by agreeing to move forward with a consultant in hopes of maximizing revenue.
At a regular meeting on Aug. 21, Mayor John Borrowman made a motion to direct administration to continue to work with Partnership Group – Sponsorship Specialists (PGSS) to develop the marketing of all assets associated with the new 77,000 square-foot facility.
According to a report delivered by Communications Coordinator Sally Caudill, administration has been working with the Calgary-based consultant to develop an inventory of assets.
Along with its sister organization, Sponsorship Connections, the consultant group services clients from all around Canada and has represented municipalities, sports teams, membership, entertainment and charitable/non-profit organizations.
Following the completion of a value assessment, PGSS identified the potential annual gross sponsorship revenue of $364,000 within three years. The three key areas where the bulk of value is located are the pool, climbing wall and the name of the facility itself, the report noted.
Borrowman asked Caudill, as well as the representatives from PGSS present at the meeting, Chris Reed and Randy Sageman, what sort of corporations would be interested in getting involved with sponsoring Elevation Place.
The group indicated a company with a large community engagement such as a bank would potentially be a sponsor. It also noted some local businesses would likely be keen on contributing.
“When approaching potential sponsors, the sponsorship consultant will ‘package’ or ‘bundle’ assets in Elevation Place to meet the needs and key outcomes for potential sponsors,” the report stated.
The issue of sponsorships already associated with the local swim clubs, and whether or not it will continue to exist once the new facility is opened, was also brought up by council.
However, the group said swimming clubs would be able to maintain current sponsorships with the only difference being sponsors will no longer be able to advertise directly inside the swimming pool. The group advised the current sponsors could advertise via television screens and banners set up within the facility.
“It will be useful to have the expertise and knowledge,” said Councillor Jim Ridley following the mayor’s motion.
“This is a specialized skill set that’s important for us to have,” added Coun. Sean Krausert.
The mayor also said council is very keen on offsetting revenues and is comfortable having administration move ahead with PGSS to help maximize revenue.
A second motion was made for administration to direct a new Town Sponsorship Policy for approval by council prior to executing a sponsorship agreement.
Both motions passed unanimously by all members of council, with the exception of Coun. Gordie Miskow, who was not present for the meeting.
